The staggering $1.9 Trillion COVID stimulus bill passed the Senate Saturday, scraping by with some major changes from the original bill.
Let’s take a dive into some of the major parts of the bill that will affect you, and what was removed after opposition.
Stimulus Checks: This new bill pushed through a large stimulus payment to each US citizen making less than $80,000 annually, with higher numbers for those filing jointly or with dependents. The bill will send out $1,400 checks per adult and kid, completing former President Trump’s call for $2,000 checks, with the first $600 per person passing late last year.
Unemployment: Unemployment benefit boost was set to expire this month, but with this bill will stay alive through September 6th of this year. Despite the attempt to raise the amount provided to $400, the measure failed, leaving the number at $300 a week.
Bailouts: For good or bad, cities, states, and tribes will see massive bailout payments totaling $350 Billion saving states like New York that were looking at a dismal bottom line. Amtrack will also see a $200 million boost added to the $1.5 billion provided by the House.
Child Tax Credits: Got Child? Got Cash! A $3,600 per child Child Tax Credit boost is in the bill for those under the age of 6 and $3,000 per child up to the age of 17. The credit is limited to those making less than $75,000 a year annually, or couples making less than $150,000.
$15 Minimum Wage: One of the first things axed from the bill is the $15 minimum wage hike, which polarized the democratic party and doomed it to failure.
Pelosi Rail Project: The pet project for a California railway in Pelosi’s district was trashed as well. The project had a $140 million price tag, and got lots of heat for bloating the bill.